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Alector Stock Falls After Flashing 12-Month Data From Mid-Stage Trial In Frontotemporal Dementia Patients

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Alector Stock Falls After Flashing 12-Month Data From Mid-Stage Trial In Frontotemporal Dementia Patients

Alector Inc (NASDAQ: ALECdetailed early data from its lead drug, AL001, INFRONT-2 Phase trial at the Alzheimer's Association International Conference (AAIC 2021)

  • Patients with one type of frontotemporal dementia decline because they're missing one copy of an immune-regulating gene called progranulin and subsequently have half the amount of the protein healthy adults have. 
  • In 9 patients, Alector showed that their antibody, AL001, brought progranulin levels back to near-normal levels after a half-year. Seven stayed at near-normal after a year.
  • The Company also showed that most of those patients improved across a range of biological correlates for cognitive function, including the rate at which patients' brains shrunk. Data also claimed the treatment slowed patients' mental decline. 
  • Although investigators didn't have a control arm, they matched subjects with similar patients from a medical database and said those who received treatment declined 47% more slowly.
  • Last year, the Company launched a Phase 3 trial that will enroll 180 patients and randomize them to receive either AL001 or placebo for 96 weeks.
  • Earlier this month, GlaxoSmithKline plc (NYSE: GSK) gave Alector $700 million cash and $1.5 billion in milestones to co-develop AL001 and AL101.
  • Price Action: ALEC shares are down 8.5% at $27.92 during the market session on the last check Thursday.
 

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